Happy Tuesday!
Well the warmer weather is certainly upon us, amazing how nature can turn the tap on and off just like that!
Last week was a busy one with news on the recession, GDP falling, Victoria to remain on lockdown. Its pretty easy to see how we can all get caught up in the bad news.
One of the reasons I like Peter Switzer is that he’s nearly always looking for the upside and the silver lining. He’s not averse to calling the Banks or the Government out, which is what he did twice last week! You can find them here Can Banks repress their bad habits… and Bankers…not penny pinching bastards
Property observer in an article last week noted that home prices have hit record high’s in 11 regions. I think that given the current state of play here in Canberra that we may well top that list very shortly. With still very high demand and low stock levels. Though this may all change soon with the spring tradition of selling your home. I know the agents I speak to tell me they are seeing more and more movement.
Latrobe Financial came out this week with some new offerings that they haven’t played with before. A loan aimed at emergency services personal the ADF and emergency medical service personnel called Everyday Hero’s. They will offer discounted rate pricing with no rates yet announced. In response to what is quite a high demand as seen lately a bridging loan and a loan aimed at non-resident and ex pat borrowers.
Banks have remained steady on rates with no major changes in the last week. This is fairly normal play from them without much movement in rate typically noted between now and the end of January. There may be some jockeying in the next couple of weeks, nothing would surprise me much these days.
There is nothing surer at the moment that we are experiencing the lowest rates on record. If your bank or clients bank isn’t delivering then I can certainly have a look at see what can be done to keep them honest.
Have a great week.
JC
Scenarios and interest rates quoted above are suggestions and constitute general advice only.
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